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Amazon Downgrades Investment in LivingSocial

Date:
February 4, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
LivingSocial was once among the toast of the startup world, shooting revenue past $500 million and stirring up talk of an IPO with a $15 billion market cap. Now, however, Amazon is downgrading its investment in almost a third of the daily deals site to zero. And the company, currently without a CEO, is cutting failed business lines as it tries to right-size itself after a big divestiture. Video provided by TheStreet


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last updated on 2014-12-19 at 11:36 pm EST

New York State Data Breaches in 2013 Hit 7.3 Million People, Highest to Date

New York State Data Breaches in 2013 Hit 7.3 Million People, Highest to Date

TheStreet (July 15, 2014) — 2013 was a record year for data breaches in New York, at least according to a report from the New York State Attorney General's office. Public and private institutions in New York experienced more than 900 breaches and more than seven million New Yorkers had their personal information exposed. Threats in 2013 were led by the high profile hacks at Target, where 40 million credit and debit card numbers and 70 million home addresses were stolen nationwide. Database intrusions at LivingSocial and Neiman Marcus followed. The report concludes that organizations in New York State, including businesses, lost nearly $1.4 billion from cyber attacks in 2013 alone. TheStreet's Julia Sun reports from New York. Video provided by TheStreet
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Amazon Tips Off Investors to Tilt-Friendly Smartphone

Amazon Tips Off Investors to Tilt-Friendly Smartphone

TheStreet (June 5, 2014) — Amazon announced it will launch a new product on June 18th in Seattle. The online retail giant teased the market with a Twitter photo of a shiny black device with the Amazon logo. A launch video shows mostly young white consumers swaying with the off-screen product and appearing very impressed with the device. If you answer the invite as a developer, the invitation asks questions about experience with gyroscopes and accelerometers. Many expect the smart phone to be tilt-friendly and move with the user, as opposed to relying on finger swiping motions. Amazon isn't expected to try to make a profit on the new product. Video provided by TheStreet
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Amazon to Fight FTC Over Charges of Unauthorized App Purchases

Amazon to Fight FTC Over Charges of Unauthorized App Purchases

TheStreet (July 3, 2014) — Amazon said it was prepared to take the Federal Trade Commission to court in defense of allegations it had failed to prevent unauthorized transactions by children on its tablets. Amazon said it would fight any U.S. regulator fines levied against it on those charges, countering that its parental controls are already far stricter than those the FTC requires. For instance, Amazon's Kindle has settings whereby parents can limit the time children spend on devices. PINs can also be assigned to authorize in-app purchases. The FTC imposed a $32.5 million fine on Apple earlier this year on similar charges. Video provided by TheStreet
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Amazon Prime Air Piques Interest in Drone Delivery

Amazon Prime Air Piques Interest in Drone Delivery

New York Financial Press (Dec. 2, 2013) — Amazon is thinking out of the box with its Prime Air delivery-by-drone system. The unmanned aircraft project is still in its infancy at Amazon's research and development laboratories.
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